L&B

Sun Communities, Inc. Appoints Jerry Ehlinger and Craig Leupold to Board of Directors

Retrieved on: 
Friday, February 16, 2024
Shareholder, L&B, Committee, Building, Growth, Sun Communities, Sun, Pedigree, CIO, SUI, Management

Southfield, MI, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE: SUI) (the “Company” and “Sun”) announced today that Jerry Ehlinger and Craig A. Leupold have joined the Company’s Board of Directors (the “Board”), effective immediately.

Key Points: 
  • Southfield, MI, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE: SUI) (the “Company” and “Sun”) announced today that Jerry Ehlinger and Craig A. Leupold have joined the Company’s Board of Directors (the “Board”), effective immediately.
  • Gary Shiffman, Chairman, President and Chief Executive Officer, commented, “We welcome Jerry and Craig to the Board and appreciate the collaborative engagement we have had with Land & Buildings, a Sun Communities shareholder.
  • Jerry has a decades-long REIT pedigree and Craig brings new perspectives in real estate investment management.
  • "We appreciate our constructive engagement with the Sun Communities Board and management team," said Jonathan Litt, Founder & CIO, Land & Buildings Investment Management LLC.

Land & Buildings Issues Presentation Highlighting Opportunity to Unlock Substantial Real Estate Value at Six Flags

Retrieved on: 
Wednesday, December 21, 2022
Professional Services, Finance, Realty Income, L&B, MGM Resorts International, MGM Growth Properties, EBITDA, IRS, Depression, Vici Properties, MGP, EPR Properties, Blackstone, Growth, Season, The Ritz-Carlton Hotel Company, NYSE, Department of Lands building, Host Hotels & Resorts, HST, Four Seasons, Building, MGM, Litt, Six Flags, Sale, REIT, Amusement park, Audit, Real estate, Security (finance), 6 (disambiguation)

The presentation is available at: https://bit.ly/3HStjkx

Key Points: 
  • The presentation is available at: https://bit.ly/3HStjkx
    “Six Flags is an iconic brand with a tremendous value creation opportunity in front of it,” said Land & Buildings Founder and Chief Investment Officer, Jonathan Litt.
  • This strategy of separating the real estate and operator is a structure we have seen succeed in maximizing value of numerous hospitality and leisure companies that we’ve invested in historically.
  • We look forward to continuing our constructive dialogue with leadership and helping the Company to realize the potential of Six Flags for all shareholders.”
    Key takeaways from the presentation include:
    Six Flags could add $11 per share today by unlocking its real estate value.
  • L&B is assuming conservative estimates of value and that Six Flags could drive 50% upside to the shares in 2023 and over 100% in the next 18 months.

Leading Proxy Advisory Firm Glass Lewis Recommends that Aimco Stockholders Vote “FOR” Aimco’s Three Highly Qualified Director Nominees

Retrieved on: 
Thursday, December 1, 2022
Residential Building & Real Estate, Construction & Property, REIT, NYSE, NAV, Land, Glass Lewis, Dissident, AIV, Strength, L&B, Green Street, Investment, REIT, Wellington Management Company, Glass, L. B. King and Company Building, Holding company, Management, Security (finance), Auction, Shareholder, Aimco

Apartment Investment and Management Company (NYSE: AIV) (Aimco or the Company) today announced that Glass Lewis & Co. (Glass Lewis), a leading independent proxy advisory firm, has recommended that Aimco stockholders vote FOR Aimcos three highly qualified director nominees, Jay Paul Leupp, Michael A. Stein and R. Dary Stone, on the WHITE proxy card in advance of the Companys December 16, 2022 Annual Meeting of Stockholders (Annual Meeting).

Key Points: 
  • Apartment Investment and Management Company (NYSE: AIV) (Aimco or the Company) today announced that Glass Lewis & Co. (Glass Lewis), a leading independent proxy advisory firm, has recommended that Aimco stockholders vote FOR Aimcos three highly qualified director nominees, Jay Paul Leupp, Michael A. Stein and R. Dary Stone, on the WHITE proxy card in advance of the Companys December 16, 2022 Annual Meeting of Stockholders (Annual Meeting).
  • Commenting on the Glass Lewis recommendation, Aimco issued the following statement:
    We are pleased that Glass Lewis supports the reelection of all three of Aimcos highly qualified director nominees.
  • Glass Lewis clearly recognizes that Aimco has the right Board and the right strategy to continue enhancing value for stockholders.
  • The Company strongly recommends that stockholders vote FOR the Companys three highly qualified directors: Jay Paul Leupp, Michael A. Stein and R. Dary Stone.

Land & Buildings Issues Open Letter to Ventas Shareholders    

Retrieved on: 
Monday, March 7, 2022
Other Construction & Property, Construction & Property, REIT, Eclipse, ESL, Industry, MSCI, Security (finance), LLC, Board, WHEN, Department of Lands building, Common stock, U.S. Securities and Exchange Commission, Pedigree, Mark (given name), Building, Separately managed account, Ventas (company), Culture, UPON, VTR, Company, L&B, NOI, Managed account, Forecasting, Human, Sale, NO, Common, TSR, Growth, THE, LAND, Real estate investment trust, Bank, Risk management, Ventas, Neutral, SHOP

Like many other senior housing focused REITS, Ventas had to navigate challenging waters that afflicted the sector during the pandemic.

Key Points: 
  • Like many other senior housing focused REITS, Ventas had to navigate challenging waters that afflicted the sector during the pandemic.
  • Land & Buildings principals have known several members of the Board and management team at Ventas professionally and personally for decades.
  • LAND & BUILDINGS STRONGLY ADVISES ALL SHAREHOLDERS OF THE COMPANY TO READ THE SOLICITATION STATEMENT AND OTHER PROXY MATERIALS AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
  • The participants in the solicitation are anticipated to be Land & Buildings Capital Growth Fund, LP (L&B Capital), Land & Buildings GP LP (L&B GP), Land & Buildings Opportunity Fund, LLC (L&B Opportunity), L&B Total Return Fund LLC (L&B Total Return), L&B Megatrend Fund (L&B Megatrend), Land & Buildings Investment Management, LLC (L&B Management), and Jonathan Litt.

Land & Buildings Issues “Ace The Test ACC” Presentation Outlining Urgent Need to Unlock Value for Shareholders at American Campus Communities

Retrieved on: 
Thursday, December 16, 2021
Professional Services, Education, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, University, LLC, NYSE, Communication, Disappointment, L&B, Company, G&A, NAV, ACC, Success, Board, View, Bank, Cryptocurrency

Land & Buildings Founder and Chief Investment Officer, Jonathan Litt, said, ACC has strong fundamental tailwinds as return to campus is in full force yet ACC continues to trade at a material discount to its net asset value following a prolonged period of Company missteps and poor investor communications.

Key Points: 
  • Land & Buildings Founder and Chief Investment Officer, Jonathan Litt, said, ACC has strong fundamental tailwinds as return to campus is in full force yet ACC continues to trade at a material discount to its net asset value following a prolonged period of Company missteps and poor investor communications.
  • Management and the Board need to make it clear to the investment community they will do everything in their power to close the gap to NAV.
  • The Company trades at a substantial discount to NAV, trading at nearly a 5% implied cap rate while private market comps are trading at 3.75% 4.25% cap.
  • This presentation highlights the root causes of that underperformance, including inferior capital allocation, weak core growth and poor investor communication.

Lexington Realty Trust Sends Letter to Shareholders

Retrieved on: 
Wednesday, October 6, 2021
TSR, REIT, L&B, RMS, FFO, Sale, Director, Sun Belt, Board, Base, Letter, CEO, Company, Trustee, Department of Lands building, Growth, STAG, Female, CIO, Leadership, Risk, MNR, Board of directors, S&P, Investment, NYSE, Time, NEW, Adjustment, GLOBE, Real estate, Audit, Self storage, Security (finance), Asphalt, Management, Bank, Sales

NEW YORK, Oct. 06, 2021 (GLOBE NEWSWIRE) -- Lexington Realty Trust (NYSE:LXP) (“Lexington” or “the Company”), a real estate investment trust (REIT) focused on single-tenant industrial real estate investments, today issued a letter to its shareholders. 

Key Points: 
  • Lexington has Substantially Completed its Transition into a Leading, Pure-Play Single-Tenant Industrial REIT
    NEW YORK, Oct. 06, 2021 (GLOBE NEWSWIRE) -- Lexington Realty Trust (NYSE:LXP) (Lexington or the Company), a real estate investment trust (REIT) focused on single-tenant industrial real estate investments, today issued a letter to its shareholders.
  • The letter details the Companys successful portfolio transformation and reiterates the Board of Trustees and management teams commitment to enhancing value for all its shareholders.
  • The full text of the letter to Lexingtons shareholders follows:
    Lexington Realty Trusts (LXP or the Company) Board of Trustees and executive management team are committed to one clear priority: delivering value for you, the Companys shareholders.
  • You may be aware that as of June 30, 2021, Land & Buildings (L&B) disclosed a 0.7% ownership position in LXP.